Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Knowledge Economic City (KEC) reported a net profit of SAR 18.15 million for the fiscal year (FY) 2019 from a net loss of SAR 39.33 million a year earlier.
2) Arabian Cement Co. reported a net profit after Zakat and tax of SAR 208.7 million for FY2019 from a net loss of SAR 26.2 million in the year before.
3) Arabian Cement Co. recommended a 10% cash dividend for the second half of 2019, at SAR 1 per share, amounting to SAR 100 million.
4) Al-Babtain Power and Telecommunication Co.’s net profit after zakat and tax jumped 23.4% year-on-year (YoY) to SAR 86 million for FY2019.
5) Fawaz Abdulaziz Alhokair Co. signed a Murabaha financing agreement worth SAR 3 billion ($800 million) with a syndicate of banks.
6) Mulkia Gulf Real Estate REIT Fund completed the acquisition of Elite Mall building in Riyadh for SAR 201.5 million.
7) Saudi Company for Hardware (SACO) signed a SAR 194 million land investment contract for 22 years in Jeddah.
8) SEDCO Capital REIT Fund is planning to acquire a real estate portfolio worth more than SAR 900 million, consisting of 10 developed income-generating assets in different areas between Riyadh and the Eastern Province.
9) Methanol Chemicals Co. (Chemanol) obtained the Ministry of Energy’s approval for allocating the required feedstock to expand the methanol plant in order to increase its output by 100,000 tons.
10) Brent crude on Tuesday gained $1.14 to reach $53.04 per barrel. WTI Crude also increased $1.12 to reach $47.87/bbl.
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